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Roblox's second-quarter performance fell short of expectations, with Cathie Wood spending $25.5 million to buy more than 860,000 shares.
According to China Fund News, Roblox announced its second-quarter results on August 9. Its revenue increased 15% year-on-year to $681 million, but fell short of analysts' expectations of $778 million; $337 million for the same period. Shares of Roblox fell 21.94% to $29.46 on Wednesday after the results were announced. Following the drop in Roblox's stock price, Cathie Wood's Ark Investment Management Company purchased 865,287 shares of the company through its three funds ARKK, ARKW and ARKF, spending a total of $25.5 million on the closing price.
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